This has analysts everywhere slashing their targets for the
Japanese yen.

However, one of the bigger yen bears is John Mauldin, who has been negative on the
currency for years.

In a new interview with Eric King of
King World News, Mauldin reiterates his call that the yen
goes to 300 against the U.S. dollar.

We’ve already watched the yen go from the mid-70s, now it’s
mid-80s. It (the yen) waltzed right on through 86.
Three years ago, I was on record saying that the yen would
eventually go to 100, then 125, then 150, then 200, and then
300. I still think so. In my lifetime, I can remember
the yen being over 300. It went all the way down to 75,
which is a long trip.

The yen is going to make a reverse, and it’s not going to take 40
years. It’s going to take this decade. And that’s a
monster potential macro-trade. It’s time to start putting
that (trade) on. It’s time to start thinking about how
their bonds are going to react, and how their stock markets are
going to react. I think it’s going to be one of the great
macro-trades of my lifetime.

Mauldin, who is also a gold bull, thinks that the Japanese should
be buying gold with their yen.